Commerce Bancshares (CBSH) Upgraded at BidaskClub

BidaskClub upgraded shares of Commerce Bancshares (NASDAQ:CBSH) from a strong sell rating to a sell rating in a research report released on Friday.

A number of other research firms have also recently issued reports on CBSH. Zacks Investment Research cut shares of Commerce Bancshares from a buy rating to a hold rating in a report on Thursday, August 31st. Piper Jaffray Companies restated a neutral rating and set a $60.00 price target on shares of Commerce Bancshares in a report on Friday, October 6th. Finally, Keefe, Bruyette & Woods restated a sell rating and set a $51.00 price target on shares of Commerce Bancshares in a report on Friday, September 15th. Six investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company currently has an average rating of Sell and an average price target of $56.25.

Shares of Commerce Bancshares (NASDAQ CBSH) opened at $56.75 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04. Commerce Bancshares has a fifty-two week low of $51.90 and a fifty-two week high of $60.61. The stock has a market cap of $6,060.00, a PE ratio of 21.18, a price-to-earnings-growth ratio of 3.31 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.03). Commerce Bancshares had a net margin of 24.59% and a return on equity of 11.38%. The firm had revenue of $304.83 million for the quarter, compared to the consensus estimate of $317.28 million. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. equities research analysts predict that Commerce Bancshares will post 2.77 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, December 18th. Investors of record on Thursday, November 30th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Wednesday, November 29th. Commerce Bancshares’s payout ratio is presently 33.58%.

In related news, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $55.06, for a total value of $3,028,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider V Raymond Stranghoener sold 6,399 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $58.40, for a total transaction of $373,701.60. Following the completion of the transaction, the insider now directly owns 47,112 shares of the company’s stock, valued at approximately $2,751,340.80. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Captrust Financial Advisors acquired a new position in Commerce Bancshares in the second quarter worth about $106,000. Citizens Financial Group Inc RI raised its position in Commerce Bancshares by 25.5% in the second quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 539 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Commerce Bancshares by 8.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 264 shares in the last quarter. SignalPoint Asset Management LLC acquired a new position in Commerce Bancshares in the third quarter worth about $226,000. Finally, Wedbush Securities Inc. acquired a new position in Commerce Bancshares in the third quarter worth about $229,000. 59.14% of the stock is owned by hedge funds and other institutional investors.

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About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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